SECTION 1. Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue pursuant to chapter 18 of the acts of 2013 shall be issued for a term not to exceed 30 years. All such bonds shall be payable not later than June 30, 2048, as recommended by the governor in a message to the general court dated May 28, 2013 under section 3 of Article LXII of the Amendments to the Constitution.

SECTION 2. The first sentence of the second paragraph of section 60A of chapter 29 of the General Laws, as appearing in section 112 of chapter 165 of the acts of 2012, is hereby amended by striking out the words “the principal amount of bonds issued at a discount shall be the original net proceeds of such bonds” and inserting in place thereof the following words:- for purposes of this section, the principal amount of bonds issued and outstanding shall be used in the computation of outstanding bonds.

SECTION 3. Section 2 shall take effect as of January 1, 2013.

Actions for Bill H.3488

Date

Branch

Action

5/30/2013

House

Referred to the House committee on Bonding, Capital
Expenditures and State Assets

5/31/2013

House

Hearing scheduled for 06/03/2013 from 11:00 AM-01:00 PM in A-1

6/3/2013

House

Bill reported favorably by committee and referred to the
House committee on Ways and Means

6/5/2013

House

Committee recommended ought to pass and referred to the
House committee on Steering, Policy and Scheduling

6/5/2013

House

Committee reported that the matter be placed in the Orders
of the Day for the next sitting

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